Nifty To See Further Downfall Till 10300-10000, Hold Short Positions

Last Trading Session: Indian Stock Market opened gap negative for the day exactly as predicted by EquityPandit. EquityPandit predicted that market is in negative zone and traders should go short at every positive movement. EquityPandit also predicted that next logical target for Nifty is set at 10650-10500 and exactly same happened. Indian Stock Market moved sharply negative and saw lows at 10587 near our target of 10500. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market has entered into negative zone. US Dow Jones had seen one of the biggest downfall in last trading session. We would see its effect on the whole Asian Markets as well. Indian Stock Market is expected to see further big downfall and would achieve EquityPandit’s target of 10500 for Nifty. Next Logical target for Nifty is at 10300-10000 where our next support is lying. Traders should continue to hold short positions as suggested by EquityPandit in last trading session.

FIIs were net sellers of Rs.1263.57 crores whereas DIIs were net buyers of Rs.1163.64 crores in cash market for last trading session. Nifty would see strong support at 10300-10000 whereas strong resistance would be seen 10500-10700 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (10667) The support for the Nifty is 10300-10000 and the resistance to the up move is at 10500-10700 levels.

NSE BankNifty: (26099) The support for BankNifty is at 25000-24500 and the resistance to the up move is at 26100-26300 levels.

BSE Sensex: (34757) The support for the Sensex is at 33000-32500 and the resistance to the up move is at 34700-35000 levels.

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